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NWF Group (NWF) Fair Value & Analysis

Energy · GB · Market cap 67.7M GBX

NG NWF Group NWF · LSE
Price£1.39
Fair Value£2.13
Upside+53.2%
Quality54/100
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Mixed Growth
Thin margins · 0.6% net margin
Low debt · generates free cash flow
6.15% dividend yield
Mixed vs. peers (7/14)
Narrow moat 30/100
Evidence: High Range £1.59 – £2.66 Share as image

Fair value as of: Jul 14, 2026

From 26 valuation models · updated 27 days ago

Share price +12.1% over the past month.

A solid business, screening 53% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (£1.59). The market is more pessimistic than our downside scenario.
  • Solid quality (54/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

£2.20 £1.13 Fair Value £2.13 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range £1.13 – £2.20 · fair‑value band £1.59 – £2.66 · the £1.39 price screens below the £2.13 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

NWF Group (NWF) currently trades at £1.39, while our model-based Fair Value estimate is £2.13, implying the stock looks roughly 53.2% undervalued today. The Quality Score stands at 54/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, NWF Group generated revenue of £883M at a net margin of 0.6%. Revenue declined 4.3% year over year. It earns a return on equity of 6.1%. Net debt stands at £53.9M. Fundamentals as of Jul 14, 2026

Our scenario range runs from £1.59 (bear case) to £2.66 (bull case); at £1.39, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. For context, the median of 10 Energy peers we cover trades at -48% fair-value upside, at 53%, NWF screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF £3.69 £5.18 £7.05 80
Residual Income £1.30 £1.33 £1.28 76
Rev-Margin DCF £2.97 £4.41 £6.17 74
All 26 models by family
DCF Models
FCF DCF £3.72 £5.37 £7.56 38
Owner Earnings £3.77 £5.44 £7.67 31
5Y Revenue Exit £2.97 £4.39 £6.18 39
5Y EBITDA Exit £3.18 £4.79 £6.69 41
5Y P/E Exit £2.37 £3.22 £4.10 38
10Y Revenue Exit £3.20 £4.48 £6.21 36
10Y EBITDA Exit £3.37 £4.72 £6.55 37
10Y P/E Exit £2.92 £3.77 £4.80 35
Earnings-Based
Graham-Dodd £0.8500 £3.20 £4.33 54
Lynch FV £0.7700 £1.10 £1.43 50
PEG = 1.0 £0.7700 £1.10 £1.43 46
EPV £1.59 £1.75 £1.89 59
Dividend Discount
Gordon GGM £0.5600 £0.9400 £1.22 70
DDM Multi-Stage £0.5600 £0.8900 £1.01 61
Multiples
P/E Multiple £1.31 £1.75 £2.19 63
P/S Multiple £1.59 £2.13 £2.66 58
P/B Multiple £1.59 £2.13 £2.66 55
EV/EBIT £2.13 £2.76 £3.40 53
EV/EBITDA £3.10 £4.07 £5.03 54
EV/Revenue £2.53 £3.52 £4.51 43
Asset-Based
NCAV (Graham) £0.8800 £1.18 £1.76 50
Growth DCF
Growth DCF £3.69 £5.18 £7.05 80
Rev-Margin DCF £2.97 £4.41 £6.17 74
Economic Profit
Residual Income £1.30 £1.33 £1.28 76
ROIC Compounder £1.59 £1.75 £2.01 72
Growth Earnings
Growth-Adj P/E £1.13 £1.62 £2.10 68

Widest divergence: DCF Models (£4.48) versus Dividend Discount (£0.8900). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 883M GBX
Revenue growth (YoY) -4.3%
Net margin 0.6%
Return on equity 6.1%
Free cash flow 19.9M GBX FY2025
P/E ratio 12.2
More key figures
Operating margin 0.6%
EPS (TTM) £0.1100
Dividend yield 6.2%
EPS growth (YoY) -56.3%
Net debt 53.9M GBX FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 55 · Market factors (momentum, volatility) 58

Profitability 43
Margins and returns on capital today
Quality Growth 29
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 85
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 45
Distance to the 52-week high (market factor)
Net Issuance 75
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

NWF Group plc, together with its subsidiaries, engages in the sale and distribution of fuel oils in the United Kingdom. It operates through Fuels, Food, and Feeds segments. The Fuels segment sells and distributes domestic heating, industrial, and road fuels. This segment owns and operates through a network of 27 depots.

Full company description

NWF Group plc, together with its subsidiaries, engages in the sale and distribution of fuel oils in the United Kingdom. It operates through Fuels, Food, and Feeds segments. The Fuels segment sells and distributes domestic heating, industrial, and road fuels. This segment owns and operates through a network of 27 depots. The Food segment is involved in the warehousing and distribution of grocery and other products to supermarkets and other retail distribution centers. The Feeds segment manufactures and sells animal feeds and other agricultural products. The company was founded in 1871 and is headquartered in Nantwich, the United Kingdom.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

NWF Group reported revenue of £903M in FY2025 versus £676M in FY2021, a compound +7.5%/yr. Reported net income was £6.2M in FY2025, compounding −5.6%/yr from FY2021.

Growth Quality 59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£903M
Latest YoY
−5.0%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.9%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.6%
Avg. growth/yr (36Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+10.1%
Revenue +7.5%/yr
FY21 £676M
FY22 £879M
FY23 £1.1B
FY24 £951M
FY25 £903M
Net income −5.6%/yr
FY21 £7.8M
FY22 £8.4M
FY23 £14.9M
FY24 £9.1M
FY25 £6.2M
Character of growth · EPS growth decomposed (2014-2025) +6.8 % p.a.
Revenue per share +7.4 pp

of which total revenue +7.7 pp · buybacks/dilution −0.3 pp

EBIT margin −0.1 pp
Tax rate −0.5 pp
Residual (interest, one-offs) +0.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "NWF Group Fair Value". https://www.fairvalue-calculator.com/stock/NWF

Peer Group

Oil & Gas Refining & Marketing · 114 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 54 · Below median
Fair Value upside +53% · Top 25%
Return on equity (TTM) 6% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 1% · Bottom 25%
Revenue growth -4% · Bottom 25%
Dividend yield (TTM) 6.2% · Top 25%

Valuation Multiples vs Oil & Gas Refining & Marketing median · lower = cheaper

P/E (TTM) 13.7× · Cheaper than median
P/B 1.05× · Cheaper than median
P/S (TTM) 0.10× · Cheaper than 75% of peers
P/FCF 4.6× · Pricier than median
EV/EBITDA 5.6× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 15
FUTURE 0 · sector 15
PAST 24 · sector 32
HEALTH 100 · sector 80
DIVIDEND 100 · sector 50

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Reliance Industries Limited RELIANCE ₹1,293 ₹835.66 -35%
Valero Energy Corporation VLO $309.65 $127.32 -59%
Marathon Petroleum Corporation MPC $283.74 $135.80 -52%
Phillips 66 PSX $196.16 $101.04 -48%
Neste Oyj NESTE €31.10 €4.07 -87%
Formosa Petrochemical Corporation 6505 81.30 TWD 16.68 TWD -79%
Indian Oil Corporation IOC ₹138.96 ₹417.35 +200%
HF Sinclair Corporation DINO $88.59 $48.90 -45%
Bharat Petroleum Corporation BPCL ₹315.55 ₹846.81 +168%
SK Innovation Co 096770 121,400 KRW 58,865 KRW -52%

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Frequently asked questions

Is NWF Group (NWF) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of £2.13 versus a price of £1.39, about +53% (undervalued).
What is the fair value of NWF?
Our model-based fair value for NWF Group is £2.13 (as of Jul 14, 2026), built from audited fundamentals. The current price is £1.39.
What is the quality score of NWF?
NWF Group has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of NWF Group (NWF)?
NWF Group reported trailing-twelve-month revenue of about £883M (latest available figure, as of Jul 14, 2026).
What is the net profit margin of NWF?
The net profit margin of NWF Group is about 0.6%, meaning it keeps roughly 0.6% of revenue as net income. Based on the latest reported figures.
Does NWF Group pay a dividend?
NWF Group currently shows a dividend yield of about 6.22% relative to its recent price (as of Jul 14, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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